PRPP transfers
Where it is permissible, you can ask your PRPP administrator to directly transfer funds from one registered plan to another on a tax‑deferred basis. Since you are not receiving an amount from the PRPP, you will not have to include the amount of the transfer as income on your income tax and benefit return.
Transfers to a PRPP
You can directly transfer amounts to your PRPP from another PRPP that you hold. You can also directly transfer amounts to your PRPP from your RPP, RRSP, RRIF, SPP or DPSP under which you are the annuitant or member.
You can also directly transfer funds to your PRPP account from the same plans mentioned above belonging to your spouse or common-law partner when you are entitled to those amounts because of a breakdown of the marriage or common-law partnership or death.
Transfers from a PRPP
You can directly transfer amounts from your PRPP funds to another PRPP that you hold. You can also directly transfer amounts from your PRPP to your RPP, SPP, RRSP, or RRIF.
The same transfers can be made for your spouse or common-law partner if they are entitled to the amount because of a breakdown of the marriage or common-law partnership or upon your death.
A deceased member’s PRPP proceeds can be rolled over to a registered disability savings plan of an eligible individual.
Amounts can also be directly transferred to a licensed annuity provider to acquire a qualifying annuity. However, if PRPP amounts are transferred to purchase a qualifying annuity and there is an amount paid out of the annuity in the year, the amount paid out is to be included in the income tax and benefit return of the annuitant for the year of transfer.